- The stock price of ContextLogic Inc (NASDAQ: WISH) increased by over 2% pre-market. This is why it happened.
The stock price of ContextLogic Inc (NASDAQ: WISH) increased by over 2% pre-market. This is a continuation of momentum as the stock price increased 18.42% yesterday, going from a previous close of $11.40 to $13.50.
ContextLogic was one of the most discussed stocks on the “Wall Street Bets” community yesterday according to HypeEquity. And HypeEquity founder Travis Rehl told Business Insider that retail investors were targeting $14 to $16 per share.
“WISH is more than a meme it has actual fundamental value,” said a Reddit user. “Industry average of 4.5 times revenue meaning a base valuation of $14.4 billion and a price/stock of $23.”
ContextLogic had rallied multiple times over the past month. For example, it increased over 30% pre-market on June 9.
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